Hey pal, Recently, a crypto token called “Squid,” based on Netflix's viral hit "Squid Game went on a roller coaster ride. It went from a penny to $38 in several days. And in ten minutes, it went from $628.33 to $2,856.65. All told, the price shot up more than 310,000% last week but crashed to practically zero last Monday after its founders cashed out roughly $3.4 million. This type of scam is known as "The Rug Pull." Imagine you set up a Kickstarter to raise money for a project, but once the money came rolling in, you took it and abandoned the project. Kickstarter's terms might make this a little more challenging, but the deregulated, decentralized world of crypto can be a ripe breeding ground for scams. Anyone can create a new coin, and if you have a project that others believe in, they just might buy in. Crypto highlights what we've always known all along: money is a collective belief and a shared illusion. Although it has real-world consequences, at its core, it's whatever we believe it to be. Your favorite finance friend,
|
|
|
|
1. 🤓 How to Break the Cycle of Making Bad Financial Decisions (HYG Original) If you want to make better financial decisions, that are truly rooted in cognition, first, you must mind your emotional and physiological state.
🤓
2. 🌱 The burgeoning business of OnlyFans consulting (The Hustle)
3. 🏃♂️ Teejayx6 Will Steal Your Identity—and Rap About It (WIRED)
4. 💰 No Such Thing as Enough Money (Incognito Money Scribe) “There is never enough money. Don’t get me wrong. I don’t mean that you can always use more money to achieve a perfect life. Rather, I mean the exact opposite. No amount of money will insulate you from suffering.”
5. 🤓 A Bookkeeping Thing (HYG Original) Understanding Cash-Basis Accounting vs. Accrual-Basis Accounting
🤓
6. 💲 A Wealth Tax (New York Times Opinion) “Most Americans pay an annual wealth tax on their largest asset. It’s called property tax. Each year, they pay an amount equal to a small percentage of the estimated value of their house, and a house is by far the most valuable item that most families own. The very rich are different. While they pay property taxes too, their homes tend to make up a tiny share of their net worth. The bulk of their assets are not taxed.”
7. 🎄 Holiday shopping won't be easy this year. Let's just buy less stuff. (Vox) “Research has found that a person’s carbon footprint is closely tied to how much wealth they have, even if they’re a supposedly “green” consumer. Wealthy people travel more, buy more stuff, and live in larger, energy-intensive homes. Most “middle class” Americans, according to a 2020 report from Oxfam and the Stockholm Environment Institute, fall in the global top 1 or 10 percent of individuals responsible for blowing through the world’s carbon budget. (For context, anyone earning over $109,000 is categorized in the richest 1 percent of the world, and over $38,000 as within the top 10 percent.) These choices add up over a person’s lifetime, and our tendency to overconsume carries lasting consequences.”8. 🤷♂️ Why Success Won't Make You Happy (The Atlantic) “In business, people often say, “You are what you measure.” If you measure yourself only by the worldly rewards of money, power, and prestige, you’ll spend your life running on the hedonic treadmill and comparing yourself to others.”
|
|
Bring Purpose Home with MADE by DWC, a purpose driven social enterprise created by the Downtown Women’s Center to empower women in LA to break the cycle of chronic homelessness through employment. Shop Resale, Home + Gift & Cafe Collections or try our gratitude gifting guide for clients/employees!
🤓 Did you hear? We're offering a portion of our classified ad space to newly created, not-yet-profitable, BIPOC, or female-identifying owners through 2021 free-of-charge to our subscriber community. Do you have a project or business that could use a boost during these weird times? Let us know about it, and we'll schedule it to appear in The Nerdletter. 🤓
|
|
The Nerdletter is written and curated by Paco de Leon and a tiny editorial support team. Please consider several ways you can contribute to this important mission – an inclusive conversation about money, finances, and capitalism for Creatives.
We can't do this work without you. Thanks for being part of the crew and reading this far. Peace.
|
|
|
|
Our home office is located in Los Angeles, California, the traditional lands of the Gabrielino/Tongva peoples. We acknowledge with gratitude the traditional custodians of this land and pay our respects to their Elders, past and present.
|
|
|
|
You received this email because you subscribed to The Nerdletter, a weekly newsletter.
You can unsubscribe at any time. Or, you can buy some sweet merch here.1920 Hillhurst Ave # 1089, Los Angeles, California, 90027, United States of America ©The Hell Yeah Group 2021
|
|
|
|